According to a new research report by Precedence Research, The folate market size is forecast to exceed US$ 1,514.97 million by 2030 from USD 827.84 million in 2020 and is expected to grow at the highest CAGR of 6% from 2021-2030. The report offers an up-to-date analysis regarding the current market scenario, latest trends, key drivers, potential challenges, profitability graph and the overall market environment.
Folate is vitamin B9 well-known for its role in supporting a healthy pregnancy along with the fetal development. As a main ingredient for anemia prevention, it is also commonly used in the pharmaceutical industry. Folate is used by women as a dietary supplement to prevent the creation of neural tube imperfections during pregnancy. It is a form of long-term supplementation that is also associated with minor reductions in the risk of cardiovascular disease and stroke. A major factor driving demand for the consumption of folate-based products and the internal growth of the target industry is increasing health consciousness among consumers worldwide. In addition, the main factor for the growth of the folate market is increase in female fertility rates, particularly in the Asia-Pacific region.
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Growth Factors:
Increased customer health awareness to improve immunity is a major factor driving the growth of the global demand for folate. Folate or vitamin B9 is required by the body to produce red blood cells. It is also involved in the normal growth & development of the organism, the processing of genetic materials like DNA and RNA, and many other functions of the body. The normal use of vitamin B9 tablets has been shown to be safe for consumption with no side effects on health. This substance is naturally present in a variety of plants, including dark green vegetable leaves. With the rising trend for a healthy lifestyle and balanced diet requirements, its demand is increasing. Folate deficiency in the human body results in many health problems. Macrocytic anemia, breath shortness, memory deficits, Weakness, complications of pregnancy is some of the other common health problems that occur from its deficiency. Consequently, all of the above variables promote the demand and growth of the target industry. In the forecast period 2021-2030, the emerging applications of folate may also have a positive effect on the development and revenue growth of the main operating industries. Another factor that generates enormous demand for folate and in turn drives growth of the target market is an increase in the fertility rate among women worldwide. Folate is used by women as a dietary supplement to prevent the creation of neural tube imperfections during pregnancy.
Report Highlights:
- On the basis of type, 5-MTHF calcium salt segment is expected hold largest revenue share and the 5-MTHF Glucosamine Salt segment is anticipated to register substantial CAGR during the forecast time-frame.
- On the basis of end-use, Pharmaceuticals & Nutraceuticals end use segment registered for the largest revenue with noteworthy share in 2020. In the nutraceuticals industry, this substance is used in the manufacture of supplemental vitamin capsules, powders, and cosmetics. The Food & beverages end-use is expected at substantial CAGR during the forecast time-frame.
- On the basis of form, global market is segregated as gummies, capsules, lozenges, powder, tablets, and others. Tablet segment will dominate the target market in the near future owing to its increasing demand worldwide. Powder form is expected register maximum CAGR during the forecast time-frame.
- Merck, Koninklijke DSM N.V, are foremost player in the global industry estimated for the remarkable share of the global folate market. The growth is accredited to various commercial strategies adopted by the enterprise.
Regional Analysis:
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America conquered the global market with a market share of more than 25%. The growth is owing to the increasing R&D activities, along with growing investment in the innovation of the product in the region. Increased manufacturing base in the area coupled with implementation of advanced technologies and expertise is expected to trigger the regional growth over the forecast years. Europe has seen a remarkable rise in folate materials. The presence of a strict restriction on the intake of additional nutraceuticals, along with a healthy diet, was responsible for this requirement. In addition, the European Union's favorable legislation and reforms are expected to drive regional development over the forecast period. Asia Pacific anticipated growing at the maximum CAGR in the forecast period. Latin America and the African and Middle Eastern region will show perceptible growth over the forecast period owing to growing applications of folate in the countries including Brazil, Mexico, and GCC, of the regions.
Key Market Players and Strategies:
The key companies functioning in the worldwide folate are Medicamen Biotech Ltd. Koninklijke DSM N.V, Superior Supplement Manufacturing, Gnosis SPA, Seidler Chemical Co, Inc. Nutritional Supplement Manufacturers, Inc. Shandong Xinfa Pharmaceutical Co. AIE Pharmaceuticals, Inc. Hebei Jiheng Group Pharmacy Co Ltd. Changzhou, Niutang Chemical Plant Co. Ltd. Jiangxi Tianxin Pharmaceutical Co. Ltd. BASF SE, HEMA PHARMACEUTICALS PVT. LTD., Merck, Gemini Pharmaceuticals Inc., Emcure Pharmaceuticals Ltd., Nantong Changhai Food Additive among others. Investment in the research and development of the folate along with strategic collaborations are the crucial business strategies undertaken by the major players operating in the global folate market.
Key Market Developments:
- In 2019, Merck Company declared acquisition of Versum Materials represented an equity value of about U$5.8 billion.
- In 2019, Merck company came in agreement with the California based advanced material player Intermolecular Inc. and represented an equity value of US$62 million
- In 2017, Merck Company announced the acquisition of BioControl Systems Inc. a leading food safety testing company and acquisition of Natrix Separations. This strategic partnership is in accordance with strong product portfolio of the company.
Major Market Segments Covered:
By Type
- 5-MTHF Calcium Salt
- 5-MTHF Glucosamine Salt
By Form
- Tablets
- Capsules
- Powder
- Lozenges
- Gummies
- Others
By End-User
- Food & Beverages
- Pharmaceuticals & Nutraceuticals
- Agriculture & Feed
- Others
By Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- United Kingdom
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
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